FabFurnish Lays Off One-Fourth Staff As Part of Business Restructuring

The company has fired at least 50 employees while hiring new talent simultaneously. FabFurnish has apparently laid off its CTO as well as the entire marketing team. The change comes just a week after investor Rocket Internet replaced the top management and moved founders Vikram Chopra and Mehul Agrawal away from day-to-day responsibilities.

Kishore Biyani Led Future Group Acquires FabFurnish In An All-Cash Deal

Future Group has acquired online home furnishings and décor business FabFurnish and the deal is expected to vary between Rs.15 crore and Rs.20 crore in cash. Future Group owns a furnishing brand HomeTown and is present in 20 cities. This is the first consumer startup acquisition made by Kishore Biyani.